Our business managers are here to offer advice on financing and insuring your vehicle, be it new or used and irrespective of the value. Offering a range of finance choices and a helpful approach with no pressure means that we can help you create a package that suits your lifestyle.

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Car Can Be Bought Through Cash or Finance
The question normally we face is how to purchase a car - should we take a loan or purchase it
outright with cash? We all face this dilemma, whether to buy in cash or on credit especially when we
want to buy car as it is an expensive item. There are pros and cons of both. Obviously, car finance
option looks good on the pocket as we need to only pay monthly installments towards the car price.
However, the monthly rate of interest on car loan depends on the amount of loan taken, tenure and
the loan servicing terms; no two car finance loans are similar.
Well, if you have deep pockets then outright buying is perhaps the best option. You pay by cheque,
take the keys and drive away. No more hassles of paying monthly installments and tension. The
biggest advantage of outright purchase is there are no liabilities and one can sell the car anytime
they wish.
However, many people, especially business persons prefer to avail car finance even when they are
able to pay right away. Their reasoning is that the car can be reflected as an asset on their books and
so they can claim depreciation at the end of the financial year. Moreover, they can claim expenses
such as fuel, repairs and maintenance. If these factors are to be considered, it’s better to opt for car
finance over outright purchase.
Arranging car finance is easy. Most probably, your car dealer will have tie-ups with finance
institutions or banks. Otherwise, you can rope in your bank or financier. Car finance requires a
minimum of paperwork. Financiers usually collect signed post-dated cheques towards loans.
The flip side of car finance is the penalties you have to incur in case you fail in servicing the loan. This
could wipe out your credit history and you won’t be able to get further loans. As a responsible citizen
and diligent person, you wouldn’t like to fall into a debt trap so take loans only if you are able to
service them.
As a leading dealer of Ford cars, Cumberland Ford can facilitate ford finance on all kinds of Fords,
including Territory and Falcon, two of the biggest selling cars in Australia.
Cumberlandford